The Manufacturers Life Insurance Company Reduces Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

The Manufacturers Life Insurance Company reduced its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,724 shares of the technology company's stock after selling 8,035 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Check Point Software Technologies were worth $6,483,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CHKP. Norges Bank bought a new stake in Check Point Software Technologies during the fourth quarter valued at about $428,820,000. Clearbridge Investments LLC purchased a new stake in shares of Check Point Software Technologies during the 4th quarter worth approximately $100,456,000. Causeway Capital Management LLC boosted its position in shares of Check Point Software Technologies by 33.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock valued at $360,257,000 after acquiring an additional 487,823 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Check Point Software Technologies in the fourth quarter worth $73,186,000. Finally, First Trust Advisors LP increased its holdings in shares of Check Point Software Technologies by 17.4% in the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after buying an additional 269,925 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Check Point Software Technologies Price Performance

NASDAQ CHKP traded up $0.35 during trading hours on Monday, reaching $218.68. The company's stock had a trading volume of 205,019 shares, compared to its average volume of 778,727. Check Point Software Technologies Ltd. has a 1-year low of $145.75 and a 1-year high of $234.36. The company's 50-day moving average is $220.18 and its two-hundred day moving average is $202.74. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 3.41 and a beta of 0.66.

Check Point Software Technologies (NASDAQ:CHKP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.02. Check Point Software Technologies had a net margin of 32.97% and a return on equity of 32.40%. The company had revenue of $637.80 million during the quarter, compared to analysts' expectations of $635.80 million. During the same period in the prior year, the business posted $2.04 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts forecast that Check Point Software Technologies Ltd. will post 8.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Baird R W upgraded Check Point Software Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Stifel Nicolaus raised their price target on Check Point Software Technologies from $190.00 to $220.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Guggenheim reiterated a "neutral" rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Morgan Stanley reduced their target price on shares of Check Point Software Technologies from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a research note on Thursday, March 27th. Eighteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $232.04.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.